Kotak Alternate Asset Managers, the alternative investment arm of the Kotak Mahindra Group, said Thursday it has appointed Eshwar Karra as its deputy managing director, barely weeks after group veteran Lakshmi Iyer decided to quit.
Karra has been with the Kotak Mahindra Group for over two decades and is currently the CEO of Kotak Special Situations Fund. Previously, Kerra was the CEO of Phoenix ARC, a Kotak-sponsored asset reconstruction company.
The appointment comes after Iyer decided to leave the group after a stint of more than two decades. Iyer is currently CEO of investments and strategy at Kotak Alts and will join Bajaj Finserv in August.
Kotak Alts separately clarified that Iyer was associated only with the company's investment advisory business, which focuses on HNI client portfolios. She was not involved in the alternate asset management vertical, which is built on global institutional limited partners' capital and where Karra has played a key leadership role, Kotak Alts said.
In the latest role, Karra will drive strategic initiatives across the firm, while continuing to strengthen the company’s position as a leading player in the alternative investment landscape, Kotak said in a press note.
“Eshwar Karra’s leadership and expertise in consistently delivering strong results in complex investment scenarios have helped shape the group’s investment approach and further strengthened Kotak Alts’ leadership position in the alternative investment space,” said Srini Sriniwasan, managing director, Kotak Alts.
Kotak Alts focuses on alternate asset management and investment advisory businesses. It has raised over $22 billion (Rs 1.88 trillion) across different asset classes including private equity, real estate, infrastructure, special situations, private credit, and investment advisory.
Kotak Alts has invested in various companies via its two special situations funds. These include Prius Commercial Projects, AGS Transact Technologies, Nuvoco Vistas Corp, among others.
*This article has been updated to clarify details of the roles performed by Iyer and Karra.
